Educomp Q4 net at Rs31 cr

Mumbai: E-learning solutions provider Educomp Solutions a standalone net profit of Rs31.46 crore for the quarter ended March 2008, over 2.39 fold increase compared to the corresponding period a year-ago.

The company had registered a net profit of Rs13.13 crore in the fourth quarter last fiscal, the company said in a filing to the Bombay Stock Exchange.

The standalone total revenue has increased to Rs119.53 crore for the quarter ended March 2008 from Rs51.86 crore in the year-ago period.

For the full year, Educomp posted a net profit of Rs70.06 crore, against Rs28.58 crore in the period under review last fiscal. Total revenue increased to Rs276.92 crore for the year from Rs112.17 crore a year ago.

Meanwhile, the company said it is planning to raise up to $500 million through the issue of securities, including Foreign Currency Convertible Bonds (FCCBs) or Global Depository Receipts (GDRs) in the international markets.

On a consolidated basis, the group reported a profit after tax of Rs31.70 crore for the recently consluded quarter and a total revenue of Rs 127.38 crore.

Shares of the company were trading at Rs4,133.20, down 0.04% on BSE in afternoon trade.